The real accounts are accounts of Assets, Liabilities and
A. Expenses
B. Revenues
C. Capital
D. Drawing
Answer: Option C
Solution(By Examveda Team)
The real accounts are accounts of Assets, Liabilities and Capital. The accounting formula essentially shows that what the firm owns (its assets) is purchased by either what it owes (its liabilities) or by what its owners invest (its shareholders equity or capital).Join The Discussion
Comments ( 2 )
Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
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A. Current assets
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Patents, Copyrights and Trademarks are
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B. Fixed assets
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How it cover all three
How is capital a real account.
It should be a personal one.